Kosar’s husband works in his field and he is the only breadwinner in the family. He wants to expand his business by putting in more seeds and using better fertilizers. Therefore, Kosar has applied for her first loan from Asasah for her husband. With the loan, he will buy seeds and fertilizer for his field and be able to produce good crops from it.
Kosar hopes that it will be a good experience for her and for her family as well.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid